UOB stock ahead of peers despite Thai exposure
Year to date, UOB is up nearly 6% while DBS and OCBC are down 0.5% and 5%
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DESPITE a near one per cent pullback in its share price yesterday, United Overseas Bank is still ahead of its Singapore banking peers in stock performance this year. This has left some analysts scratching their heads for a reason given UOB's exposure in Thailand where the political crisis has now led to martial law.
"We are watching the developments in Thailand very closely, and will continue to take a prudent approach to growth in the country," said Jimmy Koh, UOB group head of investor relations.
"In the long term, we remain confident of South- east Asia's potential as it is grounded in strong fundamentals and backed by the two mega trends of rising intra-regional trade and consumer affluence," he said.
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